The new PlayStation 4 comes with a smaller and thinner chassis, but everything inside has stayed the same. Photo: Sony

Sony released the Sharefactory 2.0 update on Thursday for the PlayStation 4 (PS4) and soon-to-be-launched PlayStation 4 Pro devices. The update will help users create content such as animated GIFs, photo collages etc.

“We’re excited about the new animated GIF feature, which can be easily shared to Twitter right from your console via Sharefactory. Using content from your Capture Gallery or your existing Sharefactory projects, you can create looping animated GIFs up to 10 seconds long,” the company's official press release said.

The update features include:

20% faster Projects export speed

Pan & Zoom on gameplay videos

Sharefactory troll stickers

Font for “Internet meme”

Split clip feature can now be utilized on Track 2

Currently, PS4 users can only create animated GIFs on the device using existing Sharefactory software. With the new update, the company has also added a new photo mode, which will help players capture their game moments. It will allow players to create custom collages using up to 6 photos, which can be edited using Sharefactory's filters and effects. The 2.0 update will also utilize high-resolution content available on the upcoming PS4 Pro.

Following the update, PS4 Pro owners will be able to create, personalize and share 1080p videos and 4K screenshots straight from the capture gallery.